In November, a rare Patek Philippe 5711 was put up for auction to raise proceeds for a charity organization, which is popularly known as Children Action. On 25th November, the timepiece was auctioned at $7,560,000, setting a new record.
While the bidding process hadn’t kicked off yet in early November, it was quite obvious that this watch would break the record. The Patek Philippe 5711 had been off the market for a couple of years, from 2021 till now, and then it reappeared with a mind-blowing Maori design.
In 2024, only one Patek Philippe 5711 watch was reproduced—the demand for this rare model was extremely high.
Since the 5711 was discontinued in 2021, its value has been increasing. For instance, a few months after its discontinuation, an original steel version of the 5711 fetched $6.5 million in 2021.
While Patek manufactured the ref. 5711 for 15 years, it has never rolled out a model with a hand-engraved pattern, so this new piece was quite unique due to the Maori design.
Before the Patek Philippe 5711 broke the record, the title was held by a Tiffany blue Nautilus, which fetched $6.2 million in the 2022 Children Action event.
In the past few years, Patek Philippe has donated different models to the cause to raise proceeds for the organization. From time to time, the luxury watch brand might offer watches from the same collection, such as the 5711 Nautilus and Tifanny Blue Nautilus, making it easier to rank these models based on the amount fetched.
With that said, proceeds from the auction events are always donated to the Children Action organization.
